President Donald Trump will control the so-called “golden share” that’s part of the national security agreement under which he allowed Japan-based Nippon Steel to buy out iconic American steelmaker U.S. Steel, according to disclosures with the U.S. Securities and Exchange Commission.
The provision gives the president the power to appoint a board member and have a say in company decisions that affect domestic steel production and competition with overseas producers.
Under the provision, Trump — or someone he designates — controls that decision-making power while he is president. However, control over those powers reverts to the Treasury Department and the Commerce Department when anyone else is president, according to the filings.
The White House responded in a statement that the share is “not granted to Trump specifically, but to whoever the president is” when asked why Trump will directly control the decision-making and why it goes to the Treasury and Commerce departments under future presidents.
Still, the wording of the provision is specific to Trump.
It lists what decisions cannot be made “without, … at any time when Donald J. Trump is serving as President of the United States of America, the written consent of Donald J. Trump or President Trump’s Designee” or “at any other time, the written consent of the CMAs,” a contractual term for the Treasury and Commerce departments
Posted by John3262005
3 Comments
> The White House responded in a statement that the share is “not granted to Trump specifically, but to whoever the president is”
> *wording literally spells out Donald J. Trump*
Man, they need to hire better liars at the WH /s
https://preview.redd.it/pw26xzk9v99f1.png?width=1024&format=png&auto=webp&s=ba2496419427ebae8f14e87838930ff566d0ba41
Actual Maoist behavior lmfao.
Truly, this is the Chinese century, not necessarily because of an ascendant China, but because of a Sinicization of America.